Cement sector witnessed a YoY growth of 4.19% during November. This growth is less than what was achieved during September and October 2020.
During November 2020, the cement sector dispatched 4.508 million tons of cement. In 2019 during the same period, it was recorded at 4.327 million tons.
Whereas, in September and October of the current year, the total dispatches were recorded at 5.225 million tons and 5.735 million tons respectively.
This growth is the result of an increase in local demand and a decrease in exports. The local dispatches were recorded at 3.742 million tons – a growth of 6.29% as compared to Nov’19 – and the exports were recorded at 766,273 tons – a dip of 4.99% as compared to the last year –
Domestic usage in the north increased by 4.79% where exports from the region decreased by 30.81%, Similarly, in the southern region, the domestic usage increased by 14.66% and exports also increased by 7.51%.
The first five months of FY21 witnessed an overall growth of 16.61% as compared to the first 5 months of 2019. During this period, the domestic usage was 19.456 million tons and the cement exports were 4.384 million tons.
A spokesperson from APCMA, while sharing the information, said:
The adverse publicity the cement sector received as a result of the coercive actions by the Competition Commission of Pakistan (CCP) even before completion of the investigation, is also affecting the industry
APCMA is of the view a detailed investigation should be conducted and relevant actions must be taken as this is hurting the cement industry. APCMA, in this regard, urged the Ministry of Industries and Productions to take necessary measures..
Bilal is professional finance and business person, he works with financial markets, Bilal is also a news editor at Research Snipers. He mainly covers the stories about Economy, Business, Prices, finance and others.